Tencent Music (TME) Misses Q1 EPS by 2c, Revenues Miss

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Go back to Tencent Music (TME) Misses Q1 EPS by 2c, Revenues Miss

Tencent Music Entertainment Group Announces First Quarter 2020 Unaudited Financial Results

May 11, 2020 4:05 PM EDT

SHENZHEN, China, May 11, 2020 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE: TME), the leading online music entertainment platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2020.

Financial and Operational Highlights

In the three months ended March 31, 2020:

Online music paying users grew 50.4% year-over-year to 42.7 million, and its ARPPU increased by 13.3% year-over-year. Total revenues were RMB6.31 billion (US$891 million), an increase of 10.0% year-over-year, within which online music subscription revenues grew... More